Centaur
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Centaur

ProDeFi completes rebranding with new name

DeFi crypto startup ProDeFi has changed its name to Centaur as part of its rebranding strategy. The management team behind the company has chosen the Ancient Greek mythological create to better represent the semi-decentralised approach to constructing solutions, leveraging on the transparency and security of decentralised architectures while providing a fail-safe layer through centralised systems and processes.

“We feel that how the Centaur as a mythical hybrid creature represents the co-existence of opposites in a single entity is very much like how our approach signifies the intersection between DeFi and CeFi.”

Sean, Centaur CEO

As the DeFi space keeps gaining strength while the traditional financial sector is falling behind under strain from the global COVID-19 pandemic, Centaur’s hybrid approach will present a new standard in the way people transact globally.

While blockchain-based platforms and solutions have also proven to be not entirely effective, Centaur is taking the best of both systems and making a semi-decentralised network the new standard in the DeFi space. Both traditional and decentralised systems have certain benefits over each other but they are also plagued by inefficiencies. A combination of both systems can propose a solution to the most common issues people around the world face as well as offer services to the underbanked and unbanked.

To better fulfill the changing needs of the world in terms of banking services, Centaur is also rolling out several new features.

The new Centaur hybrid wallet will greatly change the way storage of crypto works, making yield-farming easier. A centralized security function in combination with a decentralized Centaur-Lend function will allow users to store, manage and shop with their crypto funds without the complexity of managing multiple wallets. Users will benefit from a high-level security for various cryptocurrencies.

As a hybridized lending platform of a new type, Centaur keeps the compliance portion centralized to increase accountability with decision-making, risk-taking and record-keeping. Centaur’s semi-decentralized financing solution will not only apply the strengths of both centralized and decentralized solutions but standardize terms for borrowers and democratize the lending sector.

Backing by several crypto VCs and partnerships with credit unions put Centaur in a unique position to usher in a new model with more liquidity, flexibility and security. The growing demand for crypto products with centralized components and formats (e.g. funds) means Centaur will appeal to both crypto enthusiasts and novice users who want to safely diversify their portfolio.

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Centaur Editor

Centaur Editor

The official editor account for Centaur — The first step towards a fully decentralized financial system.